Last night and this morning, here are a few market updates worth noting:

On the US stock side, the three major indices all closed in the green but with modest gains—Dow Jones +0.22%, Nasdaq +0.31%, S&P 500 +0.19%. Tech stocks performed decently, with the storage and retail sectors standing out. The A50 futures index rose 0.41% in the night session, China concept stocks strengthened overall, and the Golden Dragon Index was up 1.29%.

Domestically, regulators have been active lately. For brokerages, policies are calling for expanding capital space, raising leverage limits, stressing a shift from price wars to value-based competition, and specifically mentioning that brokerages and institutions should "advance and win together" with investors. There are also new adjustments for insurance companies, with the risk factors for investing in CSI 300 component stocks and STAR Market stocks being lowered.

On the consumption side, there’s good news as the Ministry of Commerce has called for boosting consumption of major durable goods and promoting “AI + consumption.” In terms of incremental funds, over 1,200 private equity securities funds completed filings in November, up nearly 30% from October. The medical insurance catalog has been updated; two departments jointly released the new catalogs for basic medical insurance, maternity insurance, work injury insurance, as well as an innovative drug catalog for commercial health insurance.

The chip market is booming—global semiconductor sales in October jumped 33% year-on-year, with DRAM surging a remarkable 90%. Institutions predict storage chip prices may rise another 20% by early 2026.

Regulators also emphasized that listed companies should prioritize market value management, cash dividends, and share buybacks to enhance investor return awareness. Additionally, on December 5, "the first domestic GPU stock," Moore Threads, debuted on the STAR Market, with institutional accounts seeing a floating profit of about 19.1 billion RMB. Public funds, pension funds, and other long-term capital became the biggest winners.

The above information is for reference only. Please invest with caution.